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Item A comparative study on the Inflation-hedging properties of REITs and Common Stocks in South Africa(University of the Witwatersrand, Johannesburg, 2023-06) Maratela, Tsholofelo Keletso; Godspower-Akpomiemie, EuphemiaThe aim of this paper is to examine the ability of South African REITs and common stock to hedge against inflation in the short run from 2014 to 2022. Given the volatile economic environment that South Africa operates in, this poses a risk to the financial market. One of the major risks relates to inflation as it erodes real returns on investments, and this drives the need of gaining clarity on the inflation-hedging characteristics of assets in the stock market. Studies evaluating the inflation-hedging abilities of real estate and common stock present mixed results and the literature on this comparison is vast but largely excludes African countries. Moreover, the introduction of the REIT regime in South Africa in 2013 has created a new opportunity for real estate investment, which may have different implications for inflation hedging than traditional real estate. This paper adopts the Fama and Schwert approach, which is based on the Fisher model, to analyse the relationship between inflation and asset returns. The paper considers both actual inflation, measured by CPI, and expected and unexpected inflation, estimated by an ARIMA model. Using CPI as a proxy for actual inflation, a negative relationship is found between equities and inflation, and a positive relationship between REITs and inflation. These relationships were consistent for both the actual and the unexpected components of inflation. However, both asset classes exhibited a negative relationship with expected inflation. None of these regression results were statistically significant. Findings imply that neither SA Equities nor REITs can serve as reliable inflation hedges. However, the findings also imply that the relationship between inflation and the returns of these assets is nuanced and may depend on the nature of inflation (actual, expected, or unexpected). The findings will assist investors in making investment decisions, especially on protecting their wealth from excessive inflation.Item A customer communication application for organisations(University of the Witwatersrand, Johannesburg, 2022) Netangaheni, Shumani; Horvey, Sylvester SenyoThe aim of this study was to investigate the need for an integrated communication application dedicated to service communication for organizations as well as to determine factors that users consider important for the adoption of a new communication mobile application system. This study is important to the building of an application where resources are constrained and need to be traded off. The growth of social media has seen a rise in the need for consumers to instantly want access to information that is of importance to them. It is for this reason that communication has become a commodity that organizations invest in to build stronger relationships with their customers. However, it is not always easy for organizations to get it right as the communication methods they rely on may not be efficient or cost effective. It is for this reason that theoretical work was consulted to determine a need for a central communication application which various organizations can plug into to publish messages when they have service failure or recovery. The literature advised of a need but for a different problem. Primary data was collected from respondents using a survey where respondents were asked if they would use an integrated mobile application dedicated to communication when their service providers have service failure and when the service has recoveredItem Access to finance by black-owned small and medium enterprises operating in the South African agro- processing sector(University of the Witwatersrand, Johannesburg, 2022) Tjabadi, Jazzino; Mazonde, NomusaSmall and medium enterprises (SMEs) make a meaningful contribution to economic growth, job creation and poverty alleviation. Despite this, there is a low creation and high failure rate of new small businesses in South Africa. Access to finance is considered the main contributing factor, particularly amongst black-owned SMEs. South Africa has identified agro-processing industry as a sector with high potential to spur growth and create jobs because of strong linkage with primary agriculture. Against this background, this study sought to investigate the factors that hinder access to finance by black-owned SMEs operating in the agro-processing sector in South Africa and explore other key factors that threaten their long-term survival. This research contributes to solutions aimed at addressing the root causes attributable to SMEs’ inability to access funding from the formal financial institutions and government agencies. Using qualitative research method, data was collected from black SME entrepreneurs through semi-structured, in-depth interviews and analysed using content analysis. Purposeful sampling was used to identify and select the participants. The insights gained from the research highlights that black-owned SMEs are severely impacted by funding and market access issues, amongst others. The findings revealed that black SME entrepreneurs prefer to use own capital and/or funds from family and friends to start and grow their businesses. Complex processes, unsuitable financial products, high interest rates, unfavourable repayment terms and favouritism in government schemes were found to be amongst the key factors that discourage SMEs from applying for formal institutional finance. Other factors such as limited access to information about available funding sources and access to market opportunities significantly influence the long-term success of black- owned SMEs. To develop a sustainable, long-term financing model for SMEs, it is recommended that government, in partnership with the private financial institutions, establish a small business financing institution for SMEs in the agro-processing industry. To avoid the major deficiencies plaguing the existing government schemes, this should be a private, stand-alone entity funded by the government and private financial sector. The new institution should introduce new, innovative financing solutions that are tailored for start-up and early-stage SMEs.Item An Employee Perspective of Digital Adoption in a South African Bank(University of the Witwatersrand, Johannesburg, 2023) Benjamin ,Jeremiah Joseph; Gobind, JenikaThis qualitative study aims to explore the factors influencing the adoption of digital technology by employees at a South African Bank. Traditional banks are being compelled to transform their ageing technology infrastructure and ways of working in order to remain competitive in the modern economy. This requires significant investment in the development and implementation of digital technology to be used by their employees. The adoption of technology by employees is necessary for banks to achieve their operational efficiency, customer experience, and performance growth objectivesItem An evaluation of the needs of the targeted public for the growth of Intravenous Vitamin Therapy Business in East London, Eastern Cape, South Africa(University of the Witwatersrand, Johannesburg, 2022) Aphane, AkhonaThe Intravenous Vitamin (IV) Emporium is a medical spa that offers a range of IV and mineral infusion therapy. Each IV drip, packed with a combination of vitamins, minerals anti-oxidants and electrolytes, and is specifically formulated to maximise overall health, performance and general well-being. In East London, there seems to be a lack of adequate resources and management for the proper administration of IV therapy and it is observed that there is no development plan in place for the integration of IV therapy in the healthcare. All these factors provokes the need for IV therapy to be implemented for the promotion of efficient intake of vitamins for the public and patients who are unable to take the nutrients orally or for their health and lifestyle needs. It is therefore against this background that this business venture proposal aims to develop and expand on the concept of the IV therapy business in East London to ensure accessibility to an alternative of oral ingestion of vitamins. Using an inductive approach, qualitative data was collected from the recent and relevant primary research articles. The business venture proposal utilised the medium of the secondary qualitative research design, to extract substantial amounts of data from various prevailing sources. The study forwarded that benefits of Vitamin therapies are huge if compared to their costs and effort of preparation. Vast literature have also proved the importance of the vitamin therapy business in East London and the Eastern Cape. However, the amount and dose of administration of Vitamin therapy should be carefully evaluated depending on the age, medical history and medical condition of the patient. The study recommended that health practitioners should work along with researchers and nutritionists to design the vitamin therapy regimes for the local population to elevate the general public health standards and reduce the deficiency of vitamins in the local population of East London and Eastern CapeItem Analysing key factors considered by consumers before adopting 5G- enabled services in South Africa(University of the Witwatersrand, Johannesburg, 2022) Du Plessis, Jacobus Hercules; Sony, MichaelWith the mainstream deployment of new 5G mobile data technologies and the growing pressures of social influence, linked with the widespread impact Fake news, it is concerning what effect the before mentioned factors have on consumer adoption of 5G-enabled services has been a growing concern. The main objective of this study was to analyse key factors that consumers consider before adopting 5G-enabled services in South Africa. Value-based adoption model (VAM) was extended to develop a correlational model by adding factors, Social influence, Fake news knowledge to the existing model. The research model was tested by analysing the results from 140 online respondents by employing structural equation modelling (SEM) technique. The result from the study shows the weak but negative impact that consumer sacrifice has on consumer’s perception of value and ultimately consumer adoption. The impact of social influence was also explored but it found not to be significant. Furthermore the results from the study illustrate the significant relationship between Perceived Value which further influences consumer's intentions to adopt 5G enabled services. The last part of the study explores the impact that Fake News has on consumer adoption, and the results prove that the higher the consumer's knowledge of the identification of Fake News is, the less effect it has in dampening the positive effect that social influence had on consumer adoption. Results from this study are also contrasted against the results from previous studies, and the impact of the study on practitioners and researchers is discussedItem Analysing the state of trade union membership in South Africa(University of the Witwatersrand, Johannesburg, 2022) Orelowitz, Menachem Mendel; Sibanda, TonderaiThe purpose of the research is to understand the reason for the decline in trade union density in South Africa. Trade unions worldwide have seen a huge decline in their membership density. South Africa is no different. There has been a lot of research regarding the effectiveness of trade union towards the economy and the country. The importance in understanding the reasons for this decline allow for measures to be put in place by the trade unions in order to reverse this. Trade unions have been around for decades and have given their members a huge number of benefits in the work place. The research was conducted through interviews with members of trade unions as well as leadership members within these trade unions. These participants were chosen at random but had to be a current or past member. This research was qualitative in nature which allowed for more in-depth research. Trade union membership make up currently for 25% of the work force. The majority of members have had some disappointing experience from the trade union due to a lack of service delivery. Even though members acknowledged that they lacked proper service delivery from trade unions, members still would not want to represent themselves against their employer. Members need trade unions for security. The increased knowledge and results against the employer, the trade unions bring, is still creating some benefits for their members. Members are the core and backbone of trade unions. They need to be treated as paying customers, that require the best service from trade union continuously throughout their membership. Trade unions need members in order to gain strength through numbers. The ability for trade union to acknowledge this and focus on not just giving the minimum to their members will allow for a turnaround in the decline of trade union densityItem Antecedents and consequences of brand preference in the cement industry(University of the Witwatersrand, Johannesburg, 2022) Pitso, Goitumetswe; Ligaraba, NeoThe study investigates the antecedents and outcomes of brand preference in the South African Cement Industry. The theoretical groundings of the study are the Theory of Brand Equity and the Theory of Planned Behaviour. The constructs examined include brand image, perceived quality, price, the influence of others, sales promotions, packaging, brand preference, word-of-mouth, and purchase intention. Design/Methodology A self-administered questionnaire was employed and obtained 260 valid responses. Structural Equation Modelling was used to test the proposed conceptual model and CFA was used to measure the relationship between the variables using SPSS v28 and AMOS. Findings The findings of the study revealed that perceived quality, brand image, price and the influence of others positively impact brand preference. Furthermore, the study found brand preference positively influences word-of-mouth and purchase intentions. The study revealed that sales promotion and packaging do not play significant roles as antecedents of brand preference in the cement industry. Originality/Value This study explored the choice of cement brand from a business-to-business point of view and from a retail to consumer point of view. As far as the author knows, this is first study to investigate brand preference in the South African Cement IndustryItem Antecedents of blockchain adoption by South African listed companie(University of the Witwatersrand, Johannesburg, 2022) Mbeki, Luyanda; Boris, UrbanBlockchain technology is not a new concept, it was first introduced in 1991 by Stuart Haber and Scott Stornetta and made popular more than a decade ago by Satoshi Nakamoto (a name not yet verified if a real person or pseudonym) as a crypto trading platform. However, the technology has not enjoyed much success in the corporate environment. This study seeks to gain a deeper understanding of the failure of South African corporates to embrace this technology by studying the “Antecedents of blockchain adoption by South African listed companies”. Although the technology has been around for decades, one argues that it is not a revolutionary or disruptive technology as it finds very limited adoption in the corporate space. Due to its high degree of scientific and technical novelty, it is considered radical technological innovation. Therefore, the sub-objective of the study was to investigate to what extent organisational context, individual context and innovation context influence a decision to adopt blockchain technology. This was a cross-sectional study that adopted a comprehensive theoretical framework; Technology-Organisation-Environment (TOE), Technology-Acceptance-Model (TAM) and Diffusion-Of-Innovation (DOI) to unpack blockchain adoption and followed a quantitative approach. Organisational context which is part of TOE was measured by top management support and technology readiness, while individual context which is part of TAM was measured by perceived ease of use and perceived usefulness and lastly, innovation context which is part of DOI was measured by relative advantage. Due to the highly technical nature of the technology, the study focused on the general opinions of employees who work in South African listed companies, specifically decision-makers (managers, senior managers, executives) and subject matter experts (IT professionals). The primary data was from a sample size of 71 which was collected using self-administered questionnaire adopted from scholarly papers. Many statistical analyses such as Pearson’s correlation, regression, ANOVA, and t-tests were conducted. The study noted that the null hypotheses predicting that organisational context and individual context will positively influence the adoption of blockchain technology were rejected. Moreover, III because the hypotheses were rejected and therefore the relation was of no significance. The extent of the influence of organisational and individual context and the interpretation of the variables in the equation could not be explained. However, the study failed to reject the null hypothesis which predicted that the innovation context will positively influence the adoption of blockchain technology. This finding can be attributed to the distinct features of the blockchain technology providing relative advantage such as data transparency, efficiency and securityItem Assessing the performance of Special Purpose Acquisition Companies (SPACs) in SA and USA: A Comparative Study Treat or Trick?(University of the Witwatersrand, Johannesburg, 2023-03) Maredi, Maakopi Reason; Mokoaleli-Mokoteli, ThabangThis study aimed to investigate the performance of SPACs that are listed in South Africa and in the USA, with a focus on their long run performance after completing their DeSPAC Transactions. The findings indicate that, like previous generations of SPACs in the USA, Third Generation SPACs exhibit poor long run performance after completing their DeSPAC Transactions. However, in the short run, positive cumulative abnormal returns were observed surrounding their DeSPAC Transaction announcements. In relation to SPACs listed in South Africa, similar results are observed, although SPACs listed in South Africa exhibit smaller positive cumulative abnormal returns surrounding their transaction announcements when estimated over a three-day event window in comparison to their USA counterparts. The study also found that sponsor earnouts had a positive relationship with long run performance, while at-risk capital was found to not be an effective tool to align the interests between SPAC sponsors and investors. Furthermore, no evidence was found that higher redemption rates were associated with poor long run performance, with the study revealing that redemption rates were a function of the market conditions at the time of the DeSPAC Transaction announcement. The study’s contributions are providing new insights into the performance and drivers of performance of Third Generation SPACs and offers empirical evidence for regulators and investors to make informed decisions about SPAC investments. Lastly, the findings provide valuable insights for the JSE who are currently updating SPAC regulations in South AfricaItem Attaining Sustainable Economic Development for Emerging African Markets using CSI and Financial Competence(University of the Witwatersrand, Johannesburg, 2022) Dlamini, Thandokuhle BrandonCorporate social investing has been a topical issue for years now, especially in the developing countries because there are many mining and related activities taking place. Generally, the criticism on mining activities does not link to their social economic benefits; hence, the story tends to be lopsided to negativity. Despite high CSI projects in Africa, there are still problems of high inequality,financial exclusion, low savings rate and bad economic development, academic literature is thin on how these projects can be used effectively. Motivated by previous literature, this study uses the VAR, logistic and multilinear models to investigate the effectiveness of using CSI to stimulate sustainable economic growth in selected African markets. The results of this research reveal that the main macroeconomic drivers of CSI projects are (i) global CSI expense, (ii) rehabilitation and community costs, and (iii) interbank rate. Surprisingly, inflation rate is a hedge variable. Although, the contribution of energy, mining and manufacturing industries to social economic development is evident, the findings of this study do not override the negative effects to global warming from these industriesItem Brand resonance and customer loyalty in the banking sector: A study of the lower mass market(University of the Witwatersrand, Johannesburg, 2022) Zulu, Zinhle; Quaye, EmmanualThis research had its focus on investigating the influential elements of brand resonance and the customer value proposition in driving customer brand loyalty. The qualitative study set out to uncover a broad array of sub-topics that are associated with qualities of the customer value proposition that drive brand resonance that leads to brand loyalty in the Living Standard Measure (LSM) 2-5 market segment of the banking market. To get to the essence of the study, key management constructs were explored, namely the Theory of Reciprocity and Keller’s Brand Equity Model to explore characteristics that drive brand love. Being exploratory in form, the analysis was steered by a qualitative design. Interrogative interviews were carried out with an appropriate sample to gain well-informed and representative insight on this topic. In a Volatile, Uncertain, Complex, Ambiguous (VUCA) world where household income is burdened, customers place more importance on value, quality, and emotional brand connections, and how these correlate with each other to realise brand loyalty. Findings of the study revealed that the lower mass market’s comprehension of brand resonance and value proposition is limited to colour and the cost of banking. It was, however, evident there is broader subconscious understanding but how it translates in the physical is circumstantialItem Challenges and enablers of a strong and sustainable junior coal mining sector in South Africa(University of the Witwatersrand, Johannesburg, 2022-09) Leteane, Festus Puso; Goerge, JamesThe South African coal mining industry produces about 250million tonnes per annum, for the domestic and export markets. The industry is dominated by the major coal producers, with the top five producers producing about 80% of the coal in the country. It has few mid-tier producers and junior miners. The SA junior coal mining sector is mostly made up of single asset operating mines, located in the Witbank Coalfields, in Mpumalanga Province, and a few in the KwaZulu Natal province, mining anthracitic coal. The SA junior coal mining sector is fragmented, stagnant and not sustainable in its current form. Most of the junior coal miners are operating surface mining operations which require less upfront capital and are not costly to operate as compared to the underground operations. This study aims to understand the deep underlying issues that contribute to the challenges facing this sector, as well as the key enablers for a sustainable junior coal mining sector in SA. In the first objective, we investigated the challenges facing the sector, as well as their underlying root causes. In the second and third objectives, we established the key enablers and a roadmap necessary for a sustainable junior coal mining sector in SA. The literature highlighted the lack of enabling mineral policy as an underlying root cause of the challenges facing the sector. However, the study revealed that, the lack of access to funding remains the persistent and main challenge facing the sector as lot of effort has gone into improving the mineral policy, and the lack of execution in the process of policy implementation remains an obstacle to unlocking the key enablers of a sustainable junior coal mining sector in SA.Item Consumer acceptance and adoption of metaverse environments in South Africa(University of the Witwatersrand, Johannesburg, 2023) Malebana-Metsing, Sekete; Alagbaoso, ManessahThis research focuses on the acceptance and adoption drivers of metaverse (virtual world) environments in South Africa. In particular, it explores the influence of enabling technology, digital identity, access to economic resources in the form of virtual currencies and alternative digital payment capabilities as motivators of metaverse acceptance. The effect of an individual’s social circle is also examined in detail. The theoretical model used in this research is the Universal Theory of Acceptance and Use of Technology (UTAUT). The study used a cross-sectional, quantitative methodology that followed a positivist approach. Primary data was collected from a sample of adult individuals residing in South Africa through a self-administered online questionnaire. Data analysis included correlation analysis, item reduction, exploratory factor analysis, moderation variable analysis and multiple regression analysis for the constructs represented in UTAUT. The findings indicate that enabling technology, digital identity, social influence and access to economic resources (virtual currencies) are strong predictors of individual behavioural intention and usage behaviour regarding the metaverse technology. The current state of the metaverse technology in the country is considered nascent, although there is wider acceptance of console and personal computing gaming in virtual world games such as Second Life, Roblox Minecraft, World of Warcraft and Fortnite. This indicates that immersive virtual reality technology is yet to mature to the point where it can meet the needs of consumers.Item Determinants of consumers’ willingness to use cryptocurrency as a form of payment in retail(University of the Witwatersrand, Johannesburg, 2022-07) Potelwa, MyezoThe outbreak of the COVID-19 pandemic has significantly increased the number of online shopping transactions and cryptocurrency has been used as payment in some of these transactions. Some retail consumers are opposed to the use of cryptocurrency and some retail consumers want to be able to use cryptocurrency as payment in retail payments. Woolworths hired Insight, the management consulting firm, to help Woolworths executives find out whether it will increase or decrease Woolworths’s revenue if Woolworths starts accepting cryptocurrency as payment. Insight conducted its research in South Africa. Research participants answered the research questions by completing questionnaires online via the Qualtrics website. People of all ages shop at Woolworths, but for ethical reasons, Insight’s research only took the responses of adult research participants (people aged 18 and over) into consideration. The research approach of this consultancy report is quantitative research. The target population consists of South African adults. This consultancy report gathers data by using questionnaires with close-ended 7-point Likert scale questions. The reliability of this research is measured by Cronbach’s alpha score. The validity of this research is determined with exploratory factor analysis, which is conducted with IBM SPSS Software. The statistical processes that are used to analyse data include multiple regression analysis, correlation analysis, t-tests and ANOVAs. The dependent variables are Gender, Age, Environmental ethics, Ethics regarding criminal activity, Technology proficiency and Customer Equity. The dependent variable is Willingness to use cryptocurrency as payment. Money, time, common method variance and common method bias are limitations of this consultancy report. The anonymity of respondents is respected. This consultancy report takes the responses of respondents who have given informed consent into consideration. This consultancy report found that even though there will be some retail consumers who are opposed to the use of cryptocurrency as payments in retail because of their environmental ethics, there are many more consumers who want to be able to use of cryptocurrency as payments in retail because of the convenience of cryptocurrency payments, the lower transaction costs of cryptocurrency payments and the reduced risk of exposure to credit card fraud and identity theft when making cryptocurrency paymentItem Developing our financial markets to finance the energy transition(University of the Witwatersrand, Johannesburg, 2023) Madungandaba, Gcebile F.Developing a financial market is complex and tedious; therefore, the needs of various stakeholders must be considered, and market efficiency must be ensured to develop the renewable energy (RE) market effectively. This study offers valuable guidance on the effective allocation of capital resources in the renewable energy (RE) market to facilitate a smooth transition to renewable energy. To achieve this aim, panel data from 42 developing nations in Africa, Asia, and South America, spanning 1990-2019, are analysed. This study uses a panel fixed effects model to investigate the relationship between renewable energy production and credit, equity, and bond market development. The results of the empirical analysis suggest that all three dimensions of financial development, namely credit, equity, and bond, are positively associated with renewable energy production, albeit to varying degrees. This work also proposes a framework to promote renewable energy production in developing countries based on the empirical findings and existing literature. The framework highlights the leading renewable energy policy categories and specific policies most effectively promoting renewable energy production in emerging marketsItem Digital adoption by small law firms in South Africa: Challenges and opportunitie(University of the Witwatersrand, Johannesburg, 2022) Di Monaco, Veronica; Pellissier, RenéThis qualitative study will explore the factors limiting further technological adoption (TA) by small law firms (SLF) in South Africa (SA) and identify which digital transformation (DT) principles can be deployed to surpass constraints, enabling such firms to modernize their business models for higher efficiency and effectivenessItem Digital marketing as a survival strategy of small businesses in Gauteng, South Africa(University of the Witwatersrand, Johannesburg, 2022) Khumbule, Lungile; Galawe- Msimang, JabulileSmall businesses are critical to the South African economy as they employ over 50% of the labour force. Yet, in South Africa, most businesses fail within five to seven years of operating. There are multiple challenges that affect small businesses, including financial resources, marketing, innovation and others. Using digital marketing allows businesses to reach wider markets; therefore, small businesses can benefit from the effectiveness of digital marketing. The objective of the study is to explore the perceptions of owners and managers of small businesses regarding the effectiveness of digital marketing, and to examine digital marketing strategies that are essential for survival in small businesses. The research was qualitative research, with data collected through interviews with small business owners, executives, and digital marketing directors. The participants were recruited via an incubation company. There were eight (8) participants in the study. The key finding of the study is that there is a perception that digital marketing is effective for small businesses despite the challenges they face, such as a lack of skills, financial resources, legislative and government related challenges. The study found that social media could be key to survival, and the social media tools that were commonly mentioned in this context are Facebook and WhatsApp. Small businesses can use free or cost-effective methods of digital marketing to increase their brand awareness and sales. Small businesses should find creative ways to do cost-effective marketing and take advantage of any free courses offered online or by SEDA. The findings of this study contribute to the knowledge of how small business can surviveItem Digital payments adoption of informal small and medium enterprises in South Africa’s township economy(University of the Witwatersrand, Johannesburg, 2023) Mabaso, Nompilo; Magida, AyandaThe use of cash for making and receiving payments in South Africa’s townships continues to grow, despite the proliferation of alternative payment methods. Merchants operating informal businesses are reluctant to accept payments digitally, which further contributes to the socio-economic burdens experienced in townships. This study investigated merchants’ intention to use digital payment acceptance methods, specifically in the informal sector. The UTAUT2 was employed, extended with the Perceived Risk Theory. The study adopted a quantitative research approach. A questionnaire was used to collect data from 120 respondents online and face-to-face. The questionnaire was based on previously researched and theorised literature. Factor analysis, particularly Principal Components Analysis, was used to analyse the results. Correlation analysis was conducted to test the hypothesis, followed by multiple regression. The findings revealed that the independent variables Performance Expectancy, Effort Expectancy, Price Value and Perceived Trust all positively influenced the behavioural intention of informal merchants to use digital payment acceptance methods. Performance Expectancy had the strongest influence, whilst Perceived Risk was not found to have a negative influence on the behavioural intention of informal merchants to adoptItem Digital transformation and human capital in retail banking in South Africa(University of the Witwatersrand, Johannesburg, 2022-03) Lediga, Katlego; Appiah, Erasmus KofiThe digital transition is disruptive because it brings great change along with it. The banking business is being reshaped by powerful forces like but not limited to expectations from customers, technological abilities, legislative requirements, demographic trends, and economics. These are all combined to create a pressing need for change. Banks must anticipate these problems and retool in order to succeed in the future age. Banks must not only meet today's demands but also drastically innovate and restructure themselves in order to be competitive in the future. In the banking industry, digital transformation is a continual process involving both the micro and macro environment through revamping internal procedures and systems. Digital transformation occurs for a variety of reasons, including serving rural areas without branch locations, differentiating from competitors, and lowering operational expenses. In any event, there are many reservations about digital technologies' acceptability. Most people's computers or mobile phones are now used to conduct a substantial proportion of banking transactions. The variety of options, as well as the time and cost savings, and the ease of use of these applications, ensure that they continue to outperform traditional banking channels like bank branches. (Kitsios & Giatsidis, 2021) The purpose of the study is to ascertain how human capital in the form of business units and line managers within retail banks responded to the technological disruptions within the South African context. The objective of this research is to provide an overview of the shift from a workplace that does not rely on technology to one that is heavily reliant on technological integration to achieve operational needs. It will examine the repercussions of process automation migrations, as well as how this affects attrition rate and retention as human capital tries to adjust to such a radical change